Herman Cain on Saturday announced he is suspending his bid for the Republican presidential nomination.
“One of the first declarations that I want to make to you today is that I am at peace with my God. I am at peace with my wife, and she is at peace with me,” he said prior to making the announcement.
Cain said the decision was a result of the "cloud of doubt" that had been cast over his family in light of what he called false allegations.
Cain's once-surging bid for the nomination began to falter in recent weeks after allegations of sexual harassment surfaced.
Most recently, Ginger White of Atlanta claimed that she and Cain, who is married, had carried on a 13-year affair.
Cain this week told a newspaper he had repeatedly given White money to help her with "month-to-month bills and expenses." But he denied the relationship was sexual, as White contends. He said the two were friends.
Cain earlier told staffers he was reassessing his campaign in the wake of the allegation of the affair, and he acknowledged to reporters that her account had led to a drop in contributions to his campaign.
"Suspending” a campaign allows a candidate to continue raising and spending campaign funds.
For more on this story, tune in to "CNN Newsroom" on CNN.
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